Mumbai, May 2 (CommoditiesControl): Domestic pepper prices in major markets have maintained stability following a notable surge over the past 12-15 sessions. Prices have rebounded significantly, climbing by around Rs 16,000-18,000 per quintal over the last fortnight. Market participants attribute this upward trend to increased activity among stockists and an uptick in export inquiries witnessed in the past week.
In Cochin, garbled pepper is quoted at Rs 58,800 per quintal, while ungarbled pepper commands Rs 56,600. In Karnataka, prices range from Rs 56,500 to Rs 58,500 per quintal.
Meanwhile, pepper prices in Vietnam have remained stable, hovering between VND 97,000 and 98,000 per kg. The year-on-year increase of 60% in Vietnamese prices is attributed to reduced output and a tighter balance resulting from aggressive exports. Global FOB prices have seen upward movement in Indonesia and Brazil, while other centers have maintained stability.
Domestic Quotes (INR/Qtl)
- Kochi: Ungarbled - 56,600, Garbled - 58,600
- Kushalnagar: 56,500-58,500
- Chikmagalur: 56,600-58,500
FOB Quotes - Black Pepper
- Brazil ASTA (USD/MT): 4,700
- Vietnam 500gl (USD/MT): 4,400
- Vietnam 550gl (USD/MT): 4,500
- Indonesia ASTA (USD/MT): 4,725
- Malaysia (Ringgit/MT): 4,900
(By Commoditiescontrol Bureau: +91-9820130172)
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